Systems and methods for generating and using trade areas associated with business branches based on correlated demographics

a technology of demographics and system and method, applied in the field of generating reports on trade areas, can solve the problems of high unconstructed and therefore subjective, increase in potential for inconsistency and error, and circle market areas are not particularly good reflections of the actual retail environment for most retail businesses
US8655708B2Active Publication Date: 2014-02-18THE TORONTO DOMINION BANK
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Patent Information

Authority / Receiving Office
US Β· United States
Patent Type
Patents(United States)
Current Assignee / Owner
THE TORONTO DOMINION BANK
Publication Date
2014-02-18

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Abstract

Methods and systems are provided for determining and using market areas associated with one or more branches of a business. Market areas are determined using a combination of deterministic and probabilistic techniques. Distances are calculated between customers and associated branches and a convex hull formed containing the closest 60%. A block and a tightened block is formed of dissemination areas contained within the convex hull. Where blocks are shared between branches, dissemination areas are weighted according to the portion of customers associated with each branch.
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Description

FIELD OF THE INVENTION

[0001] This invention relates to generating reports on trade areas. In particular it relates to analyzing customers and potential customers surrounding a location to determine market profile and opportunity.BACKGROUND OF THE INVENTION

[0002] For businesses based on physical retail operation, success of the business depends in part on the customers who live or work in the vicinity and frequent the operation.

[0003] Retail or service operations generally refers to businesses, business branches, franchises or, service providers, that are based around a physical location, such as a store, branch, outlet, office or other entity as defined by the business or operator. Customers visit the location to purchase goods and / or receive services from the business.

[0004] Since the business generally depends on people visiting the physical location, the business is often interested in information about the people who live or work in the area around the location. This information may...

Claims

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